RI strives to bridge differences in G20 to overcome economic challenges
JAKARTA, Jul 18, 2022 - (ACN Newswire) - The third Finance Ministers and Central Bank Governors (FMCBG) meeting within the framework of Indonesia's G20 Presidency kicked off in Nusa Dua, Badung, Bali, on Friday (July 15).
| The 3rd Finance Ministers and Central Bank Governors (FMCBG) Meeting of G20 in Nusa Dua, Badung, Bali, on 16 July. (ANTARA FOTO/Fikri Yusuf/Pool/wsj) |
The meeting aims to seek ways to promote better global economic recovery amid the issues or challenges that had become more apparent nowadays.
"G20 needs to (apply more measures) by taking real actions based on the spirit of coordination, collaboration, and consensus in order to solve global issues," Finance Minister Sri Mulyani Indrawati delivered the statement during the opening of the meeting.
In total, 407 delegations were physically present in Bali, and 120 attended the event through virtual means. Some 19 finance ministers and 11 governors of Central Banks were also physically present. Thereby making it the one with the most number of physical attendees during the course of Indonesia's G20 presidency.
Minister Indrawati stated that the presence of majority of the delegations of member countries, guest nations, and international organizations demonstrated global commitment and willingness to support the Indonesian G20 Presidency, as well as promote a sustainable economy, especially in the midst of global challenges.
Bridging Differences Indonesia is committed to bridging various differences and becoming the main supporter of multilateralism in the G20 forum to overcome various current global economic challenges.
"We want to be an honest liaison. Indonesia will tirelessly seek communications and consultations, so we can continue to build bridges to accommodate the differences," the minister noted while opening the 3rd G20 FMCBG meeting.
The 3rd FMCBG meeting discussed seven priority agendas, comprising the current situation and risks of the global economy, health issues, international financial architecture, financial issues, sustainable finance, infrastructure development, and international taxation.
Meanwhile, several issues that became part of the priority agenda are the impacts of the Russian-Ukraine conflict on global food, energy, and financial security.
On the second day of the meeting on Saturday, Indrawati announced that all G20 members has agreed on the majority of the meeting results despite tensions over Russia-Ukraine conflict.
Indrawati conveyed that the meeting succeeded in agreeing on a number of initiatives, and successfully garnering support to overcome various global economic and financial problems.
"There are 14 paragraphs of the draft on the result of this two-days meeting," Indrawati stated on her speech delivering the results of the meeting.
She mentioned that two paragraphs of the result draft containing different views of several G20 members, one of which was regarding the use of the word "war" on several issues.
Indonesia and other G20 members, however, should still place the G20 as the world's largest economic cooperation forum that has a long history of solving various global problems.
Additionally, Bank Indonesia (BI) Governor Perry Warjiyo has called upon all G20 members to commit to working together to support global economic recovery in order to realize a sustainable, balanced, and inclusive world economy.
"It is important for us to stay focused on what we have planned to achieve this year," Warjiyo said at the opening of the second day of the G20 Finance Ministers and Central Bank Governors (3rd FMCBG) meeting.
Such a focus, according to Warjiyo, will send a positive message to the global community about the role and efforts of the G20 toward supporting recovery.
During Saturday's meeting, the G20 finance ministers and central bank governors discussed five topics including COVID-19 exit strategies for ensuring financial stability, climate-related financial risks, crypto assets, financial inclusion and digitization, and initiatives to address new data gaps.
Written by: Yuni Arisandy Sinaga, Editor: Fardah Assegaf (c) ANTARA 2022
Source: G20 Indonesia Sectors: Daily News, ASEAN, Government
Copyright ©2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
|
Latest Release
JCB enables JCB Contactless acceptance at Taichung MRT in Taiwan Apr 26, 2024 10:00 JST
| Mazda Production and Sales Results for March 2024 and for April 2023 through March 2024 Apr 25, 2024 18:21 JST
| MHI Begins Operation of SOEC Test Module the Next-Generation High-Efficiency Hydrogen Production Technology at Takasago Hydrogen Park Apr 25, 2024 17:45 JST
| GAC Honda to Begin Sales of All-new e:NP2, the Second Model of e:N Series Apr 25, 2024 16:50 JST
| Toyota Exhibiting at Beijing Motor Show 2024 Apr 25, 2024 16:25 JST
| Honda Reaches Basic Agreement with Asahi Kasei on Collaboration for Production of Battery Separators for Automotive Batteries in Canada Apr 25, 2024 11:10 JST
| UNIQLO Sponsors KAWS + Warhol Exhibition Tour, Starting in Pittsburgh Apr 25, 2024 09:00 JST
| Mitsubishi Power Begins Commercial Operation of Seventh M701JAC Gas Turbine in Thailand GTCC Project; Achieves 75,000 AOH To-Date Apr 24, 2024 17:19 JST
| MC and Denka Sign J/V Agreement in Fullerene Business Apr 24, 2024 17:02 JST
| Mitsubishi Motors Posts Record Sales in the Philippines in FY2023 Apr 24, 2024 13:56 JST
| NEC Develops High-speed Generative AI Large Language Models (LLM) with World-class Performance Apr 24, 2024 13:25 JST
| Fujitsu SX Survey reveals key success factors for sustainability Apr 23, 2024 10:25 JST
| Fujitsu and METRON collaborate to drive ESG success: slashing energy costs, boosting productivity with new manufacturing industry solutions Apr 22, 2024 16:09 JST
| NEC Strengthens Commitment to Space Industry with Investment in Seraphim Space Venture Fund II Apr 22, 2024 15:09 JST
| Soft Space Launches the First and Only JCB Payment Gateway in Malaysia Apr 22, 2024 15:00 JST
| TOYOTA GAZOO Racing takes a one-two in Croatian thriller Apr 22, 2024 10:47 JST
| First-ever Mazda CX-80 Crossover SUV Unveiled in Europe Apr 19, 2024 13:50 JST
| Fujitsu develops technology to convert corporate digital identity credentials, enabling participation of non-European companies in European data spaces Apr 19, 2024 10:17 JST
| Mitsubishi Heavy Industries and NGK to Jointly Develop Hydrogen Purification System from Ammonia Cracking Gas Apr 18, 2024 17:01 JST
| Toyota Launches All-New Land Cruiser "250" Series in Japan Apr 18, 2024 13:39 JST
|
More Latest Release >>
|